Spain heads for political turmoil, the great Asian rail rivalry and some reasons to avoid mistletoe

This article is published in collaboration with FirstFT.

Spain’s election produced a deeply fragmented parliament with little chance of a stable government majority over the next four years.

Mariano Rajoy, the prime minister and leader of the centre-right Popular party, will once again command the biggest bloc in parliament, with exit polls predicting the PP would take 26.8 per cent of the vote and 114-118 out of 350 seats in the legislature. But the polls also suggested that neither Mr Rajoy nor any other party leaders would have an easy path towards an overall parliamentary majority. (FT)

In the news

The force is strong with Star Wars The latest instalment of the space saga is estimated to have hauled in more than $500m worldwide and a record $238m in the US and Canada, shattering the previous opening weekend record set by Jurassic World in June. (FT)

Tsipras urges IMF to stay out Greek prime minister Alexis Tsipras is pushing for the International Monetary Fund to stay out of the country’s €86bn third bailout, leaving the eurozone to take full responsibility for overseeing economic reforms. In an interview with the FT, Mr Tsipras said he was “puzzled by the unconstructive attitude of the fund on fiscal and financial issues”. (FT)

‘Crime has won’ Angry protests erupted in New Delhi following the release of the youngest participant in the fatal 2012 gang rape of a young woman in the Indian capital. “Crime has won and we have been defeated,” said the victim’s mother. (FT)

China guides renminbi higher The People’s Bank of China strengthened the daily fix for the renminbi on Monday, ending a 10-session weakening streak that had contributed to pushing the currency to a four-year low against the US dollar. (FT)

Apple chief rounds on tax code Tim Cook blamed the US government’s outdated tax code for controversy over Apple’s huge offshore cash pile. Accusations that the company was avoiding paying taxes by holding more than $180bn of its cash balances outside the US were “total political crap,” the chief executive said. (FT)

It’s a big day for

South American economies Heads of state of members of Mercosur — the Common Market of the South — meet in Paraguay. Mauricio Macri, the newly elected pro-business president of Argentina, attends his first summit as the country pursues a free-trade agreement with the EU. (teleSur)

Food for thought

Books to look forward to in 2016 From Soviet memories and retellings of Shakespeare to the latest from Thomas Piketty, the FT looks ahead to some of next year’s big titles. (FT)

The great Asian rail rivalry When Japan lost out to China on a $5bn deal to export high-speed rail to Indonesia this October, a nation despaired at the rejection of its beloved shinkansen, the great symbol of its technological might. Yet, the Indonesian tender was just one front. “The battle to sell high-speed rail has become a proxy for the broader competition between Japan and China for industrial supremacy and political influence in Asia.” (FT)

Some reasons to avoid mistletoe If you get caught under the mistletoe this Christmas season — and indeed need a way out — try this: the plant is an explosive parasite that can propel its seeds at speeds up to 60mph. (Atlas Obscura)

Lunch with Jeremy Clarkson The most famous petrolhead on the planet is loved and loathed in equal measure. He sits down for a surprisingly sober Italian to discuss cars, cigarettes and Kristin Scott Thomas. (FT)

A year of good things Despite the pervading sense of gloom, a lot of good things happened in 2015. So much so that Slate was able to lay them out in a 365-day clickable infographic. A nice way to start a Monday morning. (Slate)

Video of the day

Lucy Kellaway’s Office Space: Unilever The last time Lucy visited Unilever’s London HQ it was a rabbit warren of corridors, closed offices and wood panelling. Now it’s a vast glass and steel temple to the modern office — but is it any better? (FT)

Publication does not imply endorsement of views by the World Economic Forum.

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Author: FirstFT is the Financial Times’ editors curated free daily email of the top global stories from the FT and the best of the rest of the web.

Image: A worker walks between two bullet trains at a high speed railway maintenance station in Xi’an, Shaanxi province, China. REUTERS/Stringer.